Could Hong Kong really become China’s proxy in crypto?
With its partial autonomy, the island city of Hong Kong has traditionally served as a gate to China, but with crypto, there is a catch. Go to Source Powered by WPeMatico
Digital Currency
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Russia’s Digital Ruble Integrated Into Banking App
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials. VTB’s Mobile App to Support Digital Ruble Transfers … Read more
California Regulator Reveals Investigation Into FTX’s Failure, Says ‘Crypto Assets Are High-Risk Investments’
After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published a consumer alert and said the state regulator was “investigating the apparent failure of crypto asset platform FTX.” California’s … Read more
Brussels to Put Out Digital Euro Law Shortly, ECB’s Lagarde Says
The European Commission is going to present a legislative proposal for a digital euro in the near future, President of European Central Bank Christine Lagarde has indicated. EU legislators are expected to define the new currency’s legal tender status and determine its privacy features. EU Commission to Propose Legislation for Eurozone’s Digital Currency Authorities in … Read more
Canada to examine crypto, stablecoins, and CBDCs in new budget
Canada’s government stated its concerns on the risks digital assets and the digitalization of money may pose to its financial system as a reason for launching the consultation. Go to Source Powered by WPeMatico
Report: Zimbabwe Proceeding With Digital Currency Plans, Central Bank Undeterred By Slow Adoption of Nigerian CBDC
Undeterred by the reported slow adoption of the Nigerian central bank digital currency, the deputy governor of the Reserve Bank of Zimbabwe, Innocent Matshe recently said his institution will proceed with plans to launch its own digital currency. In addition to sending a team to learn from the Central Bank of Nigeria’s experiences, Zimbabwe has … Read more
Chinese central bank exec says digital yuan will offer ‘controllable anonymity’
China’s digital yuan is one of the earliest CBDCs whose pilot phase has expanded to include millions of users and billions in transaction volume. Go to Source Powered by WPeMatico
Bank of Thailand Needs More Time to Complete and Launch Retail Digital Currency
The central bank of Thailand is not going to rush with the launch of its digital currency as it’s not yet sure about the benefits it would bring. According to the head of the monetary authority, the development of the state-issued coin may take several years. Thailand’s Central Bank Wants to Better Understand Risks of … Read more
National Bank of Kazakhstan to Integrate Digital Tenge With BNB Chain, Binance CEO Unveils
The central bank of Kazakhstan intends to use Binance’s blockchain platform Bnb Chain for the deployment of its upcoming digital currency. The decision was made public on social media by Changpeng Zhao, the chief executive of the global crypto exchange which was recently licensed to work in the country. Kazakhstan to Employ Binance Blockchain Infrastructure … Read more
S. Korean watchdog goes after crypto whales to ensure AML compliance
The South Korean regulator noted that popular stablecoins used by the public might become a primary tool for laundering using digital assets. Go to Source Powered by WPeMatico
